on GOV.UK
•
• by tweeting @HMRCcustomers or posting on our Facebook page with general queries • using the HMRC app, which is available on the App Store or Google Play Store • using the online forum (click on Tax Credits and You) • through HMRC’s webchat help service • by calling the tax credits helpline: 0345 300 3900
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Businesses urged to register for Making Tax Digital before August 15 July 2019
Many of the 1.2 million businesses affected by the new Making Tax Digital (MTD) rules will be required to submit their first quarterly return to HMRC using software by 7 August.
If paying by direct debit, these businesses must register by Friday 27 July.
HMRC’s reveals that: •
at the moment, around 10,000 businesses are registering for MTD every day • more than 600,000 businesses have signed up in total, with some 400,000 submissions already successfully made using software • businesses in the agriculture sector (such as farmers) have been one of the fastest groups to sign up to MTD, with 50% already registered • the financial sector has been one of the slowest to sign up, with nearly 75% yet to sign up The Director of Making Tax Digital at HMRC has said that during this first year it won’t be issuing filing or record keeping penalties to businesses doing their best to comply. However, HMRC is urging those businesses affected to sign up for Making Tax Digital on GOV.UK as soon as possible. HMRC expects MTD to reduce tax lost due to errors, thanks to the improved accuracy that digital records provide and the fact that information is sent directly from software to HMRC. The latest tax gap figures showed avoidable mistakes cost taxpayers more than £9.9 billion last year – £3 billion attributable to VAT alone.
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HMRC secures record £627.9 billion in revenue 26 July 2019
HMRC has released its Annual Report and Accounts for 2018-19. Some of its achievements listed are a 3.6% increase in total tax revenue year on year, an extra £34.1 billion generated by tackling avoidance, evasion and non-compliance and £24.4 million in minimum wage arrears identified and recovered on behalf of workers. The tax authority has helped more customers than ever to pay their taxes quickly and easily online – 19 million people have signed up to Personal Tax Accounts and 93.5% of Self Assessment returns were completed online. A major step forward was taken in Making Tax Digital for Business, with the launch of the new mandated service for digital record keeping and for filing VAT returns online. More than 93,000 businesses signed up for the pilot during 2018-19 and when it launched in full on 1 April 2019, sign ups increased to over 500,000 by the start of July 2019.
HMRC’s primary purpose is to collect the tax that pays for the UK's public services, and some record figures have been achieved:
• £627.9 billion in total tax revenues was secured in 2018/19 – a 3.6% increase on the previous year
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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